SWEF Start-up Grants

About this fund

SWEF Start-Up grants are for individuals who are in the early stages of setting up their business, or whose business is currently earning less than £500 per month. This grant provides up to £500 to help get things off the ground. The funding can support essential start-up costs such as equipment, materials, stock, website creation, product development, or training.

There is no fixed closing date for this fund, and applications will be reviewed monthly.

If your business has already started earning more than £500 per month and you are within your first two years, then you may be eligible to for the SWEF Business Grants, details of which are available here.

Purpose of this fund

• Applications can be for grants up to the value of £500
• Applications solely for 'business ideas' will not be considered. You must be able to give evidence of significant steps taken to get your business off the ground.
• Business visibility is required - e.g. social media presence, website, leaflets.
• Grants must be spent within one month of receipt of funds.

 

Who can apply?

• Applicants need to be between the age of 18-30.
• Applications need to be for UK businesses only.
• Applications must come from a majority shareholder.
• Applications can only come from businesses that have (of will have) a business bank account. If you are able unable to open a business bank account please contact us to discuss.
• Businesses must be able to generate revenue within 3 months of application.
• If an applicant is not yet full-time, they will need to prove they they intend to go full time as soon as possible, Applications can only be from sole traders/limited companies/CICs limited by shares that have been trading less than 2 years.
• Applications that clearly explain how a grant will transform a business and take it to the next stage are the most likely to be successful.

What can’t be funded?

How you can use the grant:

(this is not an exhaustive list)

• Equipment that will help a business achieve increased revenues. Applications that involve the purchase of second hand items are particuarly welcomed.
• Materials/stock
• Protypes and product development
• Website.booking system build
• Training
• Goods and services provided within the UK are preferred

Please note that SWEF does not provide grant funding for the following:

• Salaries
• Debt repayment
• App development or software development costs. Apps/software should be ready to launch or already launched at the point of applying to SWEF.
• Rent and utilities
• Equipment or products relating to invasive beauty treatments such as botox, aesthetics, semi permanent makeup, facial tattoos, dermal fillers
• New computers, phones, tablets.

NB on a match funded basis, SWEF will consider applications for refurbished technology.  However, in order to be successful, the applicant will need to explain why the laptop, tablet or phone will transform their business. A link to the refurbished item will also be required, with an explanation of why they need this piece of specific technology.

How are decisions made?

Applications will be reviewed on a rolling basis once a month, where they will be checked to ensure they meet the eligibility criteria. 

If an application is eligible and shortlisted, a call will be arranged with the applicant and SWEF, where Foundation Scotland may also be present.